If Demand Is Inelastic, Then Total Revenue Would Increase If

question 30

True/False

If demand is inelastic, then total revenue would increase if price were raised.

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Definitions:

Encouragement

The act of giving support, confidence, or hope to someone.

Galatea Effect

An individual’s high self-expectations lead to high performance.

Pygmalion Effect

The phenomenon in which individuals perform better or worse based on the expectations set by those in authority positions.

Training Effectiveness

The measure of how well a training program meets its objectives, often evaluated by the participants' performance improvements.